Top 30 401k Plans of 2010

| December 23, 2010 | 0 Comments

Brightscope recently announced the Top 30 401k plans of 2010. The Top 30 list is comprised of large 401k plans with high overall quality, as measured by the Brightscope rating system. The Brightscope rating system measures how effectively a company’s 401k plan gets it’s employees to retirement. Key factors in the rating system include:

  • Company Contributions – To be competitive on the Top 30 list companies must have a high level of company contributions per participant, which is indicative of generous matching and profit-sharing contributions. On average companies on the list provided $8,700 in company contributions per active participant.
  • Plan Eligibility – Plan eligibility is the length of time between when an employee is hired and when they are eligible to participate in the plan. The shorter the time period the better. Twenty-five (25) of the thirty (30) plans on the list offer immediate eligibility to the plan.
  • Match Eligibility – Match eligibility is the time employees must wait until they are eligible to receive matching contributions in accordance with the matching contribution terms. Five plans on this years list make employees wait an additional period of time to be eligible for employer matching contributions.
  • Vesting – All but one of the plans on the top 30 list offer immediate vesting to plan participants.
  • Fees – BrightScope’s Total Plan Cost (TPC) calculations include investment expense ratios, administrative costs and also fund-level trading and transaction costs. There is an 0.80% difference between the lowest cost plan on the list and the highest cost plan according to our cost calculations. All told the average total cost of plans on the list is 0.67%.
  • Participation Rates – There is not a single plan on the list with a participation rate below 90%.  The average participation rate among plans on the Top 30 List is 96%, with ExxonMobil, Amgen, Southern California Permanente and American Airlines Pilots all obtaining 100% participation. This group of 30 also appears willing to adopt automatic enrollment features
  • Salary Deferrals – The higher the salary deferrals, the better. Only 8 plans on the list have salary deferrals below $10,000 per participant, with an average salary deferral of $12,200
2010 Rank 2009 Rank Company/Plan BrightScope Rating
1 1 The Savings Plan of Saudi Arabian Oil Company 93.17
2 N/A Southern California Permanente Medical Group Retirement Plan 89.96
3 4 Southwest Airlines Pilots Retirement Savings Plan 89.04
4 10 Amgen Retirement and Savings Plan 88.4
5 2 United Airlines Pilot Directed Account Plan 88.3
6 9 Employees Savings and Retirement Plan of Credit Suisse Securities (USA), LLC 87.35
7 20 Bayer Corporation Savings and Retirement Plan 87.26
8 12 BP Employee Savings Plan 86.99
9 11 Nucor Corporation Profit Sharing and Retirement Savings Plan 86.97
10 25 Avaya Inc. Savings Plan for Salaried Employees 86.88
11 21 UBS Savings and Investment Plan 86.73
12 28 IBM Savings Plan 86.66
13 8 ExxonMobil Savings Plan 86.45
14 N/A Sanofi-Aventis US Savings Plan 86.42
15 N/A Anadarko Employee Savings Plan 86.35
16 N/A Novartis Pharmaceuticals Corporation Investment Savings Plan 86.26
17 N/A Bechtel Trust & Thrift Plan 86.17
18 7 Chevron Employee Savings Investment Plan 85.95
19 N/A Genentech, Inc. Tax Reduction Investment Plan 85.59
20 N/A Altria Deferred Profit-Sharing Plan for Salaried Employees 85.35
21 6 ConocoPhillips Savings Plan 85.22
22 N/A American Airlines, Inc. Pilot Retirement Benefit Program Variable Income Plan 85.11
23 27 Federal Express Corporation Pilots Retirement Savings Plan 85.1
24 N/A Shell Provident Fund 84.8
25 N/A Sun Microsystems, Inc. Tax Deferred Retirement Savings plan 84.72
26 23 GlaxoSmithKline Retirement Savings Plan 84.68
27 N/A Cisco Systems, Inc. 401k Plan 84.66
28 N/A Goldman Sachs 401k Plan 84.56
29 N/A AstraZeneca Savings and Security Plan 84.53
30 13 Pfizer Savings Plan 84.52
2010 Rank 2009 Rank Company/Plan BrightScope Rating
1 1 The Savings Plan of Saudi Arabian Oil Company 93.17
2 N/A Southern California Permanente Medical Group Retirement Plan 89.96
3 4 Southwest Airlines Pilots Retirement Savings Plan 89.04
4 10 Amgen Retirement and Savings Plan 88.4
5 2 United Airlines Pilot Directed Account Plan 88.3
6 9 Employees Savings and Retirement Plan of Credit Suisse Securities (USA), LLC 87.35
7 20 Bayer Corporation Savings and Retirement Plan 87.26
8 12 BP Employee Savings Plan 86.99
9 11 Nucor Corporation Profit Sharing and Retirement Savings Plan 86.97
10 25 Avaya Inc. Savings Plan for Salaried Employees 86.88
11 21 UBS Savings and Investment Plan 86.73
12 28 IBM Savings Plan 86.66
13 8 ExxonMobil Savings Plan 86.45
14 N/A Sanofi-Aventis US Savings Plan 86.42
15 N/A Anadarko Employee Savings Plan 86.35
16 N/A Novartis Pharmaceuticals Corporation Investment Savings Plan 86.26
17 N/A Bechtel Trust & Thrift Plan 86.17
18 7 Chevron Employee Savings Investment Plan 85.95
19 N/A Genentech, Inc. Tax Reduction Investment Plan 85.59
20 N/A Altria Deferred Profit-Sharing Plan for Salaried Employees 85.35
21 6 ConocoPhillips Savings Plan 85.22
22 N/A American Airlines, Inc. Pilot Retirement Benefit Program Variable Income Plan 85.11
23 27 Federal Express Corporation Pilots Retirement Savings Plan 85.1
24 N/A Shell Provident Fund 84.8
25 N/A Sun Microsystems, Inc. Tax Deferred Retirement Savings plan 84.72
26 23 GlaxoSmithKline Retirement Savings Plan 84.68
27 N/A Cisco Systems, Inc. 401k Plan 84.66
28 N/A Goldman Sachs 401k Plan 84.56
29 N/A AstraZeneca Savings and Security Plan 84.53
30 13 Pfizer Savings Plan 84.52

To learn more about the Top 30 Plans List, check out Brightscope.com.

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Category: 401k

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